TETRA Technologies (NYSE:TTI) Stock Price Up 5.9% – Time to Buy?

Shares of TETRA Technologies, Inc. (NYSE:TTI) were up 5.9% during trading on Thursday . The stock traded as high as $4.98 and last traded at $4.99. Approximately 1,819,257 shares traded hands during mid-day trading, an increase of 40% from the average daily volume of 1,299,621 shares. The stock had previously closed at $4.71.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TTI. D. Boral Capital reissued a “buy” rating and set a $5.50 price target on shares of TETRA Technologies in a research report on Wednesday, January 8th. StockNews.com upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, EF Hutton Acquisition Co. I upgraded shares of TETRA Technologies to a “strong-buy” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $6.50.

TETRA Technologies Stock Performance

The company has a market cap of $655.75 million, a price-to-earnings ratio of 248.87 and a beta of 2.06. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. The stock’s 50 day moving average price is $3.79 and its 200 day moving average price is $3.44.

TETRA Technologies (NYSE:TTI) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $141.70 million during the quarter, compared to the consensus estimate of $156.43 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. TETRA Technologies’s revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, analysts expect that TETRA Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On TETRA Technologies

Hedge funds have recently made changes to their positions in the business. Balboa Wealth Partners purchased a new stake in shares of TETRA Technologies in the third quarter worth about $33,000. Townsquare Capital LLC acquired a new position in shares of TETRA Technologies during the third quarter worth $36,000. Point72 DIFC Ltd boosted its stake in shares of TETRA Technologies by 82.0% in the second quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 5,966 shares during the period. US Bancorp DE grew its holdings in TETRA Technologies by 2,038.0% during the 3rd quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 16,875 shares in the last quarter. Finally, FMR LLC increased its stake in TETRA Technologies by 75.0% during the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company’s stock worth $58,000 after buying an additional 8,084 shares during the period. Hedge funds and other institutional investors own 70.19% of the company’s stock.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.